COST ACCOUNTING P 15-35 Required: 1. Using selling prices‚ allocate the $1‚000 gateway-package revenue to the three divisions using: a. The stand-alone revenue-allocation method | Selling Price | Rev. Allocation | Precio por cuarto para dos personas 2 noches | $800 | $581.82 | Dos “rounds” de golf con precio de | 375 | 272.73 | Una cena para dos | 200 | 145.45 | | $1‚375 | $1‚000 | b. The incremental revenue-allocation method | Selling Price | Rev. Allocation
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Liabilities Capital Revenues Credits are increases for these types of accounts: Liabilities Capital Revenues Credits are decreases for these types of accounts: Assets Withdrawals Expenses (5 min.) S 2-2 “The basic summary device in accounting is the account. The left side is calld the debit side‚ and the right side is called the credit side. We record transactions first in a journal. Then we post (copy the data) to the ledger. It is helpful to list all the accounts with their balances
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Beethoven’s 9th symphony conducted by Leonard Bernstein is a truly sophisticated piece of art that takes you through a roller coaster ride of mixed emotions. Feelings of sorrow and fear throughout the piece are coated with affirmation‚ that there is a light at the end of the tunnel‚ and then Beethoven continues onto exploding your emotions using sounds that bring feelings of extreme proudness and accomplishment. This end of the journey is a magnificent chorale using a modified version of Schilling’s
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Chapter 2 The Balanced Scorecard and Strategy Map | | ------------------------------------------------- QUESTIONS 2-1 Financial performance measures‚ such as operating income and return on investment‚ indicate whether the company’s strategy and its implementation are increasing shareholder value. However‚ financial measures tend to be lagging indicators of the strategy. Firms monitor nonfinancial measures to understand whether they are building or destroying their capabilities—with customers
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Rittenberg 8th edition: Q 2-45 (pages 66 and 67) 2-45 (Audit Committees and Auditor Independence‚ LO 4‚ 5‚ 6) The audit committee is required to evaluate the independence of both the internal and external audit functions. Required a. What factors would you suggest an audit committee look at in evaluating the external auditor’s independence? b. How can the audit committee influence the independence of the internal audit function? c. The audit committee must pre-approve all nonaudit services
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Telephone Company‚ Salem Data Services Accounting Analysis Salem Telephone Company recently established Salem Date Services‚ a computer service subsidiary of the telephone company. The new subsidiary was established in efforts to earn the company increased revenues in order to relieve pressure to increase rates for the regulated telephone company. Salem Data Services accounting has shown profit loss for the subsidiary over the past three months. Peter Flores‚ president of Salem Telephone Company‚ is
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Course Subject: Accounting for Decision-making Course Code : GSM5301 Group : 8 Case Study : Prestige Telephone Company Background of Case Study In April 1997‚ president of Prestige Telephone Company (PTC)‚ Daniel Rowe‚ was making arrangements to meet with its computer data service subsidiary Prestige Data Services’ (henceforth PDS) manager Susan Bradley. This subsidiary performs data processing for the telephone company and sells computer services to other companies. In 1994‚ Rowe suggested
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AYB340 COMPANY ACCOUNTING TOPIC 1 - SOLUTIONS TO TUTORIAL QUESTIONS CASE STUDIES Case Study 1 - Accounting Policies The board of directors has resolved to change the accounting policy for treatment of advertising expenditure. Previously‚ advertising expenditure has been expensed as incurred. Following extensive market research‚ the board has taken the view that benefits from advertising expenditure in the form of product awareness and increased sales will be received by the company
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The Sarbanes-Oxley Act created the Public Company Accounting Oversight Board (PCAOB) to assume the responsibility of overseeing the auditors of public companies. The PCAOB is a private-sector‚ non-profit corporation. It was established to "protect the interests of investors and further the public interests in the preparation of informative‚ fair‚ and independent audit reports". (The PCAOB) Although the PCAOB is a private sector organization‚ it has many government-like regulatory functions. The PCAOB
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CHAPTER 1 Accounting in Action ASSIGNMENT CLASSIFICATION TABLE Brief Exercises A Problems B Problems 5‚ 6‚ 7‚ 11 1A‚ 2A‚ 4A 1B‚ 2B‚ 4B 3 6‚ 7‚ 8‚ 10‚ 11 1A‚ 2A‚ 4A‚ 5A 1B‚ 2B‚ 4B‚ 5B 4 8‚ 9‚ 12‚ 13‚ 2A‚ 3A‚ 14‚ 15‚ 16‚ 17 4A‚ 5A 2B‚ 3B‚ 4B‚ 5B Learning Objectives Questions Do It! Exercises 1. Explain what accounting is. 1‚ 2‚ 5 1 1 2. Identify the users and uses of accounting. 3‚ 4 1 2 3. Understand why ethics is a fundamental business concept. 4. Explain accounting standards
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